This excellent piece from The New York Times takes a look at the hidden costs of daredevil investing. It sums up in one simple phrase that you’ve heard from us for the last decade: Take the long view. Investors often miss the fact that meddling with their investments leaves cash on the table. They’re better off focusing “relentlessly on the far horizon, sticking with a simple and cheap plan for getting there.”

Dear Clients and Friends,

Between now and the next newsletter, Hill Investment Group will celebrate its 10 year anniversary. As you can see from one of our first team photos, not much has changed. Even our original mission statement from June 6th, 2005 holds true today: to bring science, simplicity, and transparency to investors. We still get a feeling of pride every time a client tells us we’ve done just that.

Our team recently updated our strategic plan, and I’m convinced that the next ten years will be every bit as prosperous as the first.

Thank you for taking the long view with us,

Rick Hill

Readers of our newsletter know the name Carl Richards. Carl is known for connecting money and emotion via his column and sketches on the NY Times web site. He has nearly 200 sketches featured on the site here. Carl recently invited Rick Hill to do a podcast with him and we’re excited to share this 4 minute clip of the conversation with you. Click the image to listen.